Euro steady amid respite in Europe debt crisis

TOKYO: The euro held steady against the dollar and yen in Asia on Friday after rising in New York on hopes for progress in the European debt crisis.

The euro bought $1.2957 and 99.90 yen in Tokyo morning trade, compared with $1.2961 and 99.97 late Thursday in New York, where the common currency rose on successful debt auctions by France and Spain.

Sentiment towards the euro was boosted as the auctions were the first by either country since Standard and Poor's downgraded their sovereign ratings on January 13.

The dollar was at 77.10 yen compared with 77.15 yen in New York.

The euro was also supported by a possible boost in resources for the International Monetary Fund (IMF) and hopes that Greece will strike a deal with its creditors on restructuring its debts.